BSECompany Update21h ago · 28 Sept 2026, 04:07 pm
Enclosed herewith Intimation under Regulation 30 of SEBI (LODR) Regulation, 2015.
Thomas Scott (India) Ltd · 533941
✦ AI Summary▲ PositiveOrder Win
Thomas Scott (India) Ltd has entered into a Licensing agreement & Global Designated Supplier Agreement with F21 IPCO LLC for the Forever 21 brand in India, Nepal, and Bangladesh.
Analysis Scores
Earnings Impact8/10
Growth Catalyst9/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact9/10
Market Sentiment9/10
✦ Ask a Question
Ask anything about this announcement — AI will answer based on the filing content.
Full Announcement
Thomas Scott (India) Ltd - 533941 - Thomas Scott (India) Limited Entered Into Licensing Agreement And Global Designated Supplier Agreement With F21 IPCO LLC For Forever 21 Brand In India.
Attachments (1)
📄pdf
Download →
944bfc75-527b-4206-a912-35144f27f6df.pdf
View document text
Date: September 28, 2026
To, To,
The General Manager, The Manager,
Department of Corporate Services, Listing Department,
BSE Ltd. National Stock Exchange of India Limited
P.J. Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex,
Fort, Mumbai- 400 001. Bandra (East), Mumbai – 400051.
Ref: BSE Scrip Code: 533941 and NSE Symbol: THOMASCOTT
Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (the ‘SEBI Listing Regulations’), we wish to inform you that the
Company has entered into a Licensing agreement & Global Designated Supplier
Agreement with F21 IPCO LLC a subsidiary of Authentic Brands Group for the Forever 21
brand in India, Nepal and Bangladesh.
Under the agreement, Company will serve as the exclusive licensee for Forever 21 in
India, Nepal and Bangladesh, leading the brand's product design, development,
manufacturing, distribution, retail and e-commerce operations. In addition, the company
has been appointed a Global Designated Supplier, enabling it to manufacture Forever 21
products for the brand's international partner network.
The relevant details as per the requirement of Regulation 30 of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular no.
HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are given in the
enclosed Annexure A.
This is for your information and records.
Thanking you,
Yours faithfully,
FOR THOMAS SCOTT (INDIA) LIMITED
BRIJGOPAL BANG
Managing Director
DIN: 00112203
Annexure A
Details as per the requirement of Regulation 30 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular no.
HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
Name of the entity with whom The Agreement is entered into between:
agreement is signed i. Thomas Scott India Limited (Licensee) and
ii. F21 IPCO LLC (Licensor).
Whether agreement have been International entity
entered into with domestic/
international entity
Nature of agreement Licensing agreement & Global Designated Supplier
Agreement.
Domestic/ international International agreement
Share exchange ratio or Not applicable.
Shareholding, if any, in the
entity with whom the
agreement is executed
Scope of business operation of Thomas Scott India Limited will serve as the exclusive
agreement licensee for Forever 21 in India, leading the brand’s
product design, development, manufacturing,
distribution, retail and e-commerce operations. In
addition, the company has been appointed a Global
Designated Supplier, enabling it to manufacture
Forever 21 products for the brand’s international
partner network.
Details of commercial The Agreement is a long-term brand-licensing
arrangement under which the Company has acquired
consideration or size of the
the exclusive right to use the ' Forever 21 ' brand in the
order(s)/ contract(s);
licensed territory. The consideration is in the nature of
royalty payable on net sales of licensed products.
In addition, the Company has been designated as a
Global Designated Supplier for the brand, entitling it to
Manufacture and supply licensed products to other
authorized licensees and distributors of the brand
outside the licensed territory. The consideration under
this stream is in the nature of supply/wholesale
margins on products manufactured and supplied by
the Company.
Significant terms and • Parties: Thomas Scott India Limited (Licensee) and
conditions of agreement in F21 IPCO LLC (Licensor).
brief
• Nature: Grant of an exclusive license to use the
'Forever 21' trademark and brand for the design,
manufacture, distribution, marketing and retail of
licensed apparel and related accessory categories
• Territory: India, Nepal and Bangladesh
• Distribution: Across channels.
• Global Designated Supplier (GDS): The Company has
also been designated as a Global Designated Supplier
for ' Forever 21 ', entitling it to manufacture and supply
licensed products to other authorized licensees and
distributors of the brand across territories outside the
licensed territory. This leverages the Company's in-
house manufacturing capabilities as an additional B2B
supply stream.
Time period, if any, associated 5 years with option to extend for another 5 years
with the agreement
Whether the promoter/
promoter group/ group No
companies have any interest in
that entity to whom the
agreement is entered? If Yes,
nature of interest and details
thereof;
Whether the agreement would Not applicable
fall within related party
transactions? If yes, whether
the same is done at “arm’s
length”
Size of the entity(ies); F21 IPCO LLC (Licensor / counterparty): F21 IPCO LLC
is a subsidiary of Authentic Brands Group (Authentic)
is a global brand and entertainment platform that owns
and invests in iconic intellectual property and cultural
assets. It accelerates brands through a set of specialized
businesses that combine powerful storytelling,
premium content, unforgettable live experiences and
global commerce. Through a network of more than
1,700 best-in-class licensees and strategic partners
across 150 countries and expansive distribution,
Authentic’ s brands drive more than $38 billion in
annual system wide sales worldwide.
Rationale and benefit expected The partnership reflects Company’s growing
capabilities in building and scaling fashion brands
across owned, licensed and international portfolios. Its
integrated platform brings together design,
manufacturing, technology, fulfilment and
omnichannel distribution, allowing the company to
manage the journey from product development to
consumer delivery. Today, TSIL manages a portfolio of
50,000+ SKUs across 15+ brands, supported by four
manufacturing facilities and four fulfilment centres
serving customers across India. These capabilities are
designed to form an important part of Company’s
approach to growing Forever 21 in the region.
THOMAS SCOTT (INDIA) LIMITED PARTNERS WITH AUTHENTIC
BRANDS GROUP TO BRING FOREVER 21 TO INDIA.
Thomas Scott (India) Limited Enters Long-Term Forever 21 Partnership as Exclusive
Licensee and Global Designated Supplier.
MUMBAI, September 28th, 2026: Thomas Scott (India) Limited (TSIL) has been
appointed the Exclusive Licensee for Forever 21 across apparel, bags, small leather
goods, footwear, swimwear, caps, socks and hosiery in India, Nepal and Bangladesh,
through a long-term agreement with Authentic Brands Group (Authentic), for F21 IPCO,
LLC.
The agreement, signed for an initial five-year term and renewable for a further five
years, marks Forever 21’s next phase in the region, with TSIL leading the brand’s
design, development and merchandising in partnership with Forever 21’s global
partner network.
With Forever 21, TSIL will take a digital-first approach, with the focus initially on building
the brand’s presence and connecting with its core young consumer base across the market.
Speaking about the partnership, Vedant Bang, Managing Director, Thomas Scott
(India) Limited, said, “Forever 21 is about staying forever young, and India, the world’s
youngest major economy, is where that promise belongs. With Gen Z and Gen Alpha right
in front of them, we want every Indian customer to find their twenty-one-year-old self in
this brand. We’re excited to scale Forever 21 in India, and equally excited to have been
appointed a global designated supplier for the brand.”
“Forever 21 has a strong connection with young consumers, and India represents an
important market for the brand’s next phase of growth,” said Henry Stupp, President,
EMEA-India, Authentic. “TSIL brings the local market expertise, integrated capabilities
and digital-first approach needed to expand Forever 21 across the region. We look forward
to working together to strengthen the brand’s presence and position it for long-term
growth.”
The partnership reflects TS
[Showing first 8,000 characters — download PDF for full document]